5-21-20 retired ripon college economist says another economic stimulus bill is necessary

A retired Ripon College economist says economic recovery and preventing long-term damage to the economy should override concerns about debt as congress considers another economic stimulus package.    House Democrats passed another $3 trillion relief package Friday, but the measure is being held up in the senate amid a partisan debate over how much to borrow.  Economist Paul Schoofs says he hopes congress passes another relief bill soon.  Schoofs says at stake is aid to state and local governments.   Schoofs says the raw size of the debt is not nearly as important to consider as the size of the debt relevant to the size of the economy and our ability to repay it.   Schoofs says we are truly in an emergency, and perhaps the best comparison would be to World War Two.  “There were people in political office in those years who were warning we shouldn’t be borrowing as much.  We did anyhow and ended up being able to win the war and then being able to repay that debt,”  Schoofs told WFDL news.  “I  think that’s a similar situation to what we’re in now.”